There are many well-known methods or arrangements for locking a nut onto a threaded shaft such as a bolt or stud. For example it is known to use a liquid adhesive locking compound such as LOCTITE™ adhesive. Other arrangements include simply using two nuts where a first nut is used for tightening either to a prescribed torque or to provide a required tension on the threaded bolt or shaft, and a second nut which is subsequently screwed onto the shaft to lock the first nut in place. Another well-known lock nut is the prevailing torque nut. In one form this type of lock nut incorporates an elastic sleeve or ring often made from nylon or other polymer. In these types of lock nuts, the ring elastically deforms when the nut is applied which has the effect of resisting loosening under vibrations. Other lock nut arrangements or assemblies include castellated nuts which are secured in place by cotter pins or safety wire is passed through a hole drilled transversely through the shaft onto which the nut is applied.